Pharmacy benefit managers (PBM’s) have 32 ways to hide revenue….
How many are they using to inflate your company’s health care costs? The typical math looks something like this: Prescription drugs makes up 30% of your overall health care spend (and, they are on track to represent 50% in the next few years).
The 32 hidden revenue sources make up 30-50% of that number. If you can eliminate this through transparency, this represents an opportunity to cut 10-15% out of your health plan cost.
Sadly, 76% of the prescriptions that flow to health plans around the country are administered by one of the big 3 traditional PBM’S (who invented the 32 ways).
Fortunately, that means 24% of the market has figured out how to fix this problem.
If you are purchasing your health plan from a retail insurance company/a large HMO – you are in the 76%. If you are in a self-funded arrangement that is administered by one of the large national health insurance carriers (also called an ASO plan) – you are also in the 76%.
The good news? You too can join the growing list of companies in the 24%.
If you are ready for fresh ideas when it come to your company’s health care spending let’s set up an introduction.